One Main Financial - OneMain Financial Reported to the BBB

Feb 11, 2013
review #383479

OneMain Financial is not to be trusted no matter how good the deal sounds.I'm already a struggling single mother and I wish I had done more research on them before allowing them to sucker punch me financially into near ruin.

One Main Financial did not honor their check for a personal loan after already filling out a contract and telling me I was qualified. On February 4th, 2012 I contacted One Main Financial located at 4621 S Meridian St East, Suite A 815, Puyallup, WA 98373 after receiving a pre-qualified letter in the mail. They ran my credit over the phone then told me that I was qualified to receive a personal loan of up to $4500.00 and that the soonest available appointment was on February 6th at 10am. On February 6th I brought in all the additional documents that they required for verification and signed their contract agreement for a personal loan of $2000.00, (I did not require the full $4500 allowed).

They gave me a check for the amount of $2000.11 and informed me of the interest rates, one time 4% fee and payments. I deposited the check into the bank the same day and thought all was fine. My bank holds all checks for at least 24 hrs and this one was no different so I did not use any money until I was sure it cleared with my bank. Once the check cleared over the weekend I began making payments and purchases for the things that I needed to pay thus the reason for getting the loan.

On Monday morning February 11th I received a text message from my bank stating that I was overdrawn $2000.11. I thought my heart stopped beating. I immediately checked my bank account online and saw a note stating "Deposited Item returned item chargeback refer to maker". I called my bank to ask what happened and they informed me that the check from One Main Financial was being withdrawn from my account because One Main Financial had put a stop payment on it.

When I called to speak to One Main Financial the original person that handled the loan, Melissa, immediately passed me on to her supervisor Dave who then informed me that they would not honor the loan because they could not verify my employment even though I provided them with current paystubs, employer phone numbers and even offered my current W-2s. When I asked why they even wrote me a check in the first place if they had not verified all the information that they were required to he could not give me a clear answer. When I asked why no one called or left me any messages during the past 5 days about the problem again he would not give me any clear answers. I confronted him about giving me a check first without following his own company policies of first validating my information which I had given them 2 days in advance and still he would not come clean about the shady loan.

Finally I asked him what he expected me to do now that my bank account is $2000.11 overdrawn and about to incur twenty or so $35 insufficient fund fees. He said if I could bring in some other form of employment verification that he could qualify me for an even larger loan to cover my expenses and incurred fees. Now why would I want to sign another contract with a company that didn't even honor the original contract and why would I pay them extra to cover fees and expenses that they caused? Since he could not give me any clear straight answers I asked if this meant that the original contract was void and he said yes so I ended the conversation.

Several hours later Melissa, the original person who gave me the loan, called back and said that her manager told her I would be coming in to reapply for a larger loan and asked when I would like to come in. I told her that they had caused enough problems and that I had no interest in do any further business with her company. I have informed my bank of the problem and my situation and they said I have 45 days to pay the negative balance and fees. Obviously I am very displeased with One Main Financial and there business practices and I still do not understand why no one from their office called or left a message and even more suspicious is that they would even give me a check and let me walk out the door if they very well knew something wasn't verified and it was against their own policy.

Now instead of getting the relief I needed I'm in even bigger debt and as a single mother with only one minimum wage part-time job already struggling to get by now I'm even worse off. I reported OneMain Financial to the Better Business Bureau this morning.

If nothing else maybe it will serve to protect other people from getting scammed.This company is not to be trusted.

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Anonymous

Aug 31, 2013

I have done business with this onemain for years and never had any of these problems. When I couldn't make my payment they were very helpful so that I wouldn't fall to far behind.

If you didn't spend the money though then how could you account have been over drawn by the amount of the check? The only thing you may have gotten was a returned check charge from your bank. If you had gone in and spoken to them with your employment information I am sure they would have fixed it for you. Melissa and Rubbie have helped me numerous times in those situations especially if it it's their error. I had a sloped payment and my autodraft still pulled and I called and they got it fixed right away and paid the fees from my bank.

Seems to me there was something else here that your not sharing.

0 1 Reply
vortiliana

Sep 03, 2013 Tukwila, Washington

I did use the money and I stated so above if you actually bothered to read carefully and I quote myself, "My bank holds all checks for at least 24 hrs and this one was no different so I did not use any money until I was sure it cleared with my bank. Once the check cleared over the weekend I began making payments and purchases for the things that I needed to pay thus the reason for getting the loan." AND I DID call them immediately and when I started asking questions Melissa just passed me off to her supervisor who then acted like a complete fool. He wouldn't give me any answers or reasons for their conduct he just kept saying if you want to come back and reapply for a bigger loan we can get you set up. AND I ASKED if you wouldn't give me the first loan why are you so eager to give me a bigger loan now? AND Why would I come back and get another loan if you didn't HONOR the first one? AND WHY should I pay them extra on a larger loan to cover additional expenses that they caused? I asked him all these questions and more and still he just kept saying, "oh... um... um... uh... well if you come back in we can get you a bigger loan" that's all he said over and over again. He sounded like he had no clue about his business. The way he talked I wouldn't be surprised if his mother still has to tie his shoes. I don't deny that Melissa was polite but politeness doesn't mean they know how to run their business. I still have the contract, documents and copies of the check for legal... Show more

1 0 Reply
Really?

Jun 13, 2013 College Place, Washington

I've worked in finance for a long time, and I'm certain there's no way you could qualify for a loan based on part-time minimum wage employment. States have disposal income policies which would make this dang-near impossible. While you shouldn't have been given the loan in the first place, a bank is within it's rights to rescind a loan proceeds check or accelerate a contract if it has been given bad information. At least you won't have to pay back a $2000 loan you made very clear you can't afford to pay back.

0 1 Reply
sincerely

Jul 08, 2013 Tacoma, Washington

This sounds like a veiled personal attack to me(whose viewpoint should count considering I am impartial due to not looking for a loan myself. Thus it surprises me that it is still readily shown on here when considering the warning foreshown in the statement field prior to typing a comment which is as follows: "Please keep the topic of messages relevant to the subject. Personal attacks will be deleted. No links or scripts". Someone has not been doing their duty obviously.
Secondly, as per your phrasing, I would like to point out that we do not all share your insider-educated knowledge of the trade; therefore, we all don't share the ability to detect this false advertisement and misleading business practice (which everyone, with a semblance of intelligence, knows is par-for-course in recent and past society).
Thirdly, never speak without forethought considering common-knowledge and fact checking. I would also like to point out that in Washington state it is illegal and unethical for any employer to provide any information on an employee to anyone other than whether or not they are currently working there. They do not called a previous creditor just to inform them that the employee in question does not work there anymore.

1 0 Reply
vortiliana

Sep 03, 2013 Tukwila, Washington

Not that my income is any of your business, but my payments would have been $100 a month which was easily covered by what I earned in tip wages. Which I also had documentaion of my tip earnings that I presented to them with all my other work documents.

1 0 Reply
vortiliana

Sep 03, 2013 Tukwila, Washington

I was and am still employed and I gave them my current job's paystubs and if I were attempting fraud wouldn't it have made sense for me to take the full $4500.00 they were offering instead of just $2000.00? What kind of criminal would do that? Use common sense before making assumptions.

1 0 Reply
Dervrak

Feb 22, 2013 Charleston, West Virginia

I don't know about the laws in your home state, but it mine you can take the "bad" check, walk right in to the local magistrates office and file a bad check warrant for a $35 filing fee. When the sheriff serves them with a bad check warrant, that will definitely wake their a$$es up.

1 0 Reply
Fury

Feb 21, 2013 Amarillo, Texas

You should go to several different attorneys who handle cases like this. This is obviously criminal misconduct. Also the bank should be helping you to get back at OneMain. You shoild get all the charges which you incurred plus compensation for your time spent getting this taken care of, ( keep track of mileage and time and any other expenses ), and also courts and attorneys fees.

0 0 Reply
vortiliana

Feb 25, 2013 Renton, Washington

I am still working with the bank on the matter. Thank you for your advice, I appreciate it. ,)

0 0 Reply
 
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